Ludowici issues overshadow Weir's impressive 2011
29th Feb 2012 08:18
Engineering giant Weir hit its 2014 profit targets early, after seeing adjusted pre-tax profits rise by a third in 2011, helped by record performances in its Minerals and Oil and Gas divisions. The board has recommended a 22% increase in the full-year dividend to 33p per share, up from the 27p payo
Read moreWeir's bidding war continues over Ludowici
29th Feb 2012 07:25
The ongoing battle between FTSE 100 engineer Weir and Danish rival FLSmidth over the takeover of Australian mining equipment supplier Ludowici is raging on with both companies continuing to raise their offer prices to outdo the other. Back on February 10th, Weir announced that it would pay A$7.92 p
Read moreLondon midday: Footsie nudges higher ahead of US open
24th Feb 2012 11:49
- Lloyds falls on tough outlook for 2012. - Consumer product groups Unilever, Reckitt sold off. - BoE's Fisher thinks outlook is 'incredibly uncertain'. The Footsie was trading just a few points higher by midday on Friday, as a decline in consumer products stocks, miners and Lloyds was offset by a
Read moreLondon open: Lloyds tumbles but Footsie stays flat
24th Feb 2012 08:26
- Lloyds drops after gloomy outlook. - Hammerson up as NAV rises 7%. - BoE's Fisher thinks outlook is 'incredibly uncertain'. The Footsie opened broadly flat on Friday as a strong rise by Capita and Hammerson managed to offset a fall in the mining and banking sectors following a negative reaction t
Read moreWeir extends Ludowici offer period
24th Feb 2012 07:25
Scottish engineering giant Weir, which on Thursday raised its offer to buy Australian mining equipment supplier Ludowici, has agreed to give the Ludowici board more time to consider the bid. Weir has informed Ludowici that its offer will now remain open for acceptance until six hours after a decisi
Read moreWeir ups Ludowici offer to match rival FLSmidth
23rd Feb 2012 16:22
FTSE 100 engineering giant Weir has submitted a binding offer and raised its offer price to buy Australian mining equipment supplier Ludowici, matching the recently-upped offer from Danish rival FLSmidth. Back on February 10th, Weir announced that it would pay A$7.92 per Ludowici share, representin
Read moreSector movers: Bodycote boosts industrial engineers
23rd Feb 2012 16:22
A near-15% jump in the share price of metals and alloys treatment firm Bodycote lifted the industrial engineering sector to the top spot today. Bodycote announced this morning that profits surged 68% after strong demand at its aerospace and defence unit and robust sales overseas. Pre-tax profit fro
Read moreLondon close: Stocks establish a new high for the year
20th Feb 2012 17:46
-Miners jump as investors seek riskier assets. -Officials optimistic about securing Greek bailout. -PBoC cuts RRR for banks. -ECB bought no debt last week through SMP program. Stocks rose on Monday and established a new high for the year after what appears to have been some genuinely positive new
Read moreFTSE 100 movers: Miners leap on Greek deal optimism
20th Feb 2012 14:33
Mining stocks and banks performed well in the morning session, buoyed by Greek optimism and the People´s Bank of China's decision to cut its legal reserve ratio requirement for large banks by half a percentage point, announced late on Friday. Mining stalwarts Kazakhmys, Eurasian Natural Resources
Read moreLondon open: Footsie down after Eurogroup, but Barclays rises
10th Feb 2012 08:34
- Barclays rises after cutting bonuses, but profits fall. - Eurogroup fails to approve Greek package. - BCC welcomes BoE's QE boost. UK stocks opened cautiously with Eurozone finance ministers last night failing to approve the latest round of Greek aid. Yesterday afternoon, Greek Prime Minister Lu
Read moreWeir looks to buy Ludowici for £200m
10th Feb 2012 08:08
Weir has proposed to buy Australia-listed mining equipment manufacturer Ludowici for A$294m (£200m), stepping on the shoes of Danish peer FLSmidth which made an indicative proposal for the firm last month. The FTSE 100 engineering solutions provider says it would pay A$7.92 per Ludowici share, repr
Read moreMonday broker round-up - UPDATE
30th Jan 2012 08:57
Rio Tinto: Goldman Sachs upgrades from neutral to buy. Whitbread: Credit Suisse downgrades from outperform to neutral, 1,818p target maintained. Weir: Credit Suisse ups target from 2,200p to 2,275p, outperform rating kept. ARM Holdings: Nomura raises target from 570p to 580p, neutral recommendati
Read moreLondon close: Banks fall after GDP data, markets await Fed
25th Jan 2012 16:14
- UK GDP figures disappoint. - Markets await FOMC statement and Bernanke. UK stocks finished firmly in the red after worse-than-expected UK gross domestic product (GDP) figures sent banks reeling early on. Meanwhile, markets in the US were mixed ahead of the Federal Open Market Committee (FOMC) sta
Read moreFTSE 100 movers: Ashmore rises on Barclays upgrade
25th Jan 2012 13:34
Investment manager Ashmore was the best performer, rising over 5%, bouncing back after a poor performance yesterday on the back of a downgrade from Royal Bank of Scotland. Today, however, the stock was given a boost after Barclays upgraded it to overweight from neutral. ARM Holdings, the chip desi
Read moreLondon midday: Banks fall as GDP figures disappoint
25th Jan 2012 11:55
- UK GDP contracts in the fourth quarter. - BoE unanimous in decision to maintain rates. - Mortgage approvals rise. In spite of a strong start, London's FTSE 100 experienced a sharp decline in morning trade following some disappointing gross domestic product figures which came in worse than expecte
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